Bank Aljazira invites shareholders to vote on capital hike

Bank Aljazira has invited shareholders to vote on its capital hike at the extraordinary general assembly meeting on April 10, to be held at the bank’s head office in Jeddah, the lender said in a statement to Tadawul on Wednesday.

The bank had proposed a 30 percent capital increase through bonus shares to SAR 5.2 billion from SAR 4 billion, raising the total number of shares to 520 million shares from 400 million (three bonus shares for each every 10 shares held).

Shareholders will also vote on contracts signed in 2016, including a SAR 58.6 million contract inked with Aljazira Capital, and deals worth SAR 83.5 million signed with Aljazira Takaful Taawuni Co.